Emerging Economies Participation International Order Remodeling Initiatives
To promote international monetary and financial system reform, establishment of a fair and efficient financial order
After the outbreak of the financial crisis, all of the existing monetary and financial system has made a strong challenge. Not only in emerging economies, developed countries represented by the European Union also raised the international financial order must go through “major reshuffle within the world”. Reform of the international monetary system, the establishment of new international financial order as general consensus.
Emerging economies should strengthen multilateral cooperation, and actively promote the international financial system. One advocate reserve currency diversification, the major powers to promote the local currency into reserve currency system. “BRIC” to each other can be considered acceptable in the institutional and procedural sovereign currency. Second, the proposed legislation on the management of special drawing rights, requirements in accordance with international economic and financial situation changes or to be the major powers at the request of the original rules changes and adjustments. Claim to 66% or 2 / 3 of the vote can change the rules. Third, reform of the international Monetary Fund and the Fund’s bond purchase basis for reform SDR (SDR) currency of denomination of the reference system, the gross national product accounted for more than 2% of the world countries are on the value of the currency reference currency, and periodically adjust the weighting of reference in different currencies, SDR expanding the scale of the additional scale according to the national economy, changes in distribution of financial strength. Fourth is to ask the International Monetary Fund to establish a reserve currency out of and into the mechanism, the establishment of new barriers to entry, meet the requirements of individual countries, the sovereign currency can automatically enter the reserve currency. Do not meet the requirements of the reserve currency, the next adjustment cycle can not improve conditions, and requested its withdrawal in accordance with the rules of a reserve currency.
Strengthening international multilateral cooperation in the field of climate change, the development rights for more
Low-carbon economy will become an important global economic restructuring drive, but also the development of emerging economies, the common need of a paradigm shift in emerging economies, the important task of development. Changes in mode of development in emerging economies, is to embark on a low carbon-based, focus on technology innovation and energy efficiency of new industrialization.
Emerging economies should be strengthened to address climate change and multilateral cooperation to solve environmental problems, to carry out a dialogue between the developed countries to promote the developed countries to fulfill the responsibility to carry out the transfer of capital and technology, take the main responsibility for global emissions reductions, and to give countries and other emerging economies developing more appropriate transition period. Emission reduction targets emerging economies and developed countries, transfer of technology promoted by the formation of the mechanism of interaction, strengthening environmental protection and emission reduction, financial innovation and cooperation. Meanwhile, developing countries should strengthen cooperation in tackling climate change and carbon together form the trend towards more development rights. In response to global climate change and solve environmental problems on the coordinate positions, unified action to uphold the principle of common but differentiated, obligations consistent with the level of development. Low-carbon technologies in the development of extensive and deeper cooperation, upgrading the industrial structure, optimize the industrial development policies to promote industrial upgrading goals and objectives of the organic unity of low-carbon technology. To avoid the developed countries will curb global climate change as a strategy for the development of emerging economies attempt.
Adjust the mode of development of emerging economies to enhance the international competitiveness of
Every major international economic structure adjustment will be accompanied by some countries and regions, political and economic situation in the world the great changes in the relative position. The Asian financial crisis exposed the “Asian Tigers” development patterns. The financial crisis that the US-led developed countries, encountered a crisis of its development model, while emerging economies, countries have maintained a good momentum of development. This shows that emerging economies have a strong momentum and good prospects for development. However, we must clearly recognize that the emerging economies if not change the development mode, it is possible to fall behind in the new round of competition. Therefore, the emerging economies combined internal and external forces involved in a major foothold in reshaping the international order is to enhance its international competitiveness.
The current development of the emerging economies are facing their own structural deficiencies, enhance its international competitiveness, the key is to change the development mode. Changes in mode of development in emerging economies is a holistic, systematic restructuring, should be comprehensive in many areas to make institutional arrangements. First, expand domestic demand structure. This is the transformation of emerging economies, the common mode of development issues. To adjust the over-reliance on a single element of the development of export-led model of economic growth, attention to consumption, investment, import and export of balanced development. Post-crisis era, the emerging economies should steadily promote financial system, strengthen the construction of the social security system for the expansion of consumption and structural adjustment of space. Second, the emphasis on social equity, shared economic and social development. Efforts to solve the contradiction between economic and social development is uneven, reform income distribution system, a comprehensive adjustment of the distribution of income. Third, enhance the independent innovation capacity, to seek strategic new industries. Efforts to develop new energy, information technology, biotechnology and other emerging high-tech industries represented, the formation of a competitive industrial system.
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